Average order value hits a seven-year high for January, but online sales growth is decelerating, data show.
Online retailers in the United Kingdom looking for insight about what 2017 will bring might not get a clear reading from January e-commerce data.
Shoppers in the U.K. spent on average 85 pounds ($106.05 USD) when they shopped online in January, up 7.6% from 79 pounds ($98.57) a year ago and the highest average value for January in seven years, according to the IMRG Capgemini e-Retail Sales Index, which tracks online sales data from more than 100 e-retailers. The average basket value increased in clothing, accessories and gifts sectors but decreased in electronics, data from e-retail association Interactive Media in Retail Group shows.
Online sales grew 12% in January compared with a year ago, but the growth rate has slowed as January 2016 posted year-over-year online sales growth of 15%, according to IMRG.
“January’s figures reveal a steady start to the year, but 2017 is not without its challenges for online retailers,” IMRG managing director Justin Opie says. “The most pressing one relates to the devaluation of the pound following Brexit, as it means price rises are looming for an industry where retailers often get pressured into a cycle of discounting to stimulate sales activity among customers.” In June, U.K. voters approved a measure, known as…